Americans’ Net Worth Up 10%!

Well, not all Americans, but if you are one of the 400 richest people in the country then, on average, your income is up 10%. If, on the other hand, you are part of the other 90%, then you are now paying higher interest rates on your loans, and bearing your share of the debt created by the Bush administration’s “tax cuts for the wealthy and spend” policy, and more likely to be or become unemployed than you were a few years ago.

Interestingly, the two richest people on the list are both Democrats and both opposed ending the estate tax. Buffet also vigorously opposed reducing or eliminating the dividend tax (I don’t know where Gates came down on that one).